Define: Embezzle

Quick Summary of Embezzle

To embezzle means to dishonestly appropriate or misappropriate funds, property, or assets entrusted to one’s care, typically by someone in a position of trust or responsibility, such as an employee or a fiduciary. Unlike theft, embezzlement involves taking property or money that one has lawful access to, but instead of using it for its intended purpose, the individual diverts it for their own personal use or benefit. Embezzlement is considered a serious offence and is punishable by law, often resulting in criminal charges and potential imprisonment. It can occur in various contexts, including corporate settings, financial institutions, government agencies, and non-profit organisations, and may involve elaborate schemes to conceal the unauthorized use of funds or assets. Detection and prosecution of embezzlement often involve forensic accounting, audits, and investigations to uncover evidence of fraudulent activities and hold perpetrators accountable for their actions.

Disclaimer

This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.

This glossary post was last updated: 29th March, 2024.